Best Loser Wins: Why Normal Thinking Never Wins the Trading Game - written by a high-stake day trader

This book is a must for traders. Relevant, realistic, and filled with actionable advice. It changes a trader’s point of view for the better.

I have read many technical books that gave me good ideas about how to trade, but despite all that knowledge, I realized that my main problem was my mindset, not my technical knowledge.I am patient when I am losing, in fact, I have even added to losing trades to average them out. Most of the time, however, it did not work. On the other hand, when I am winning, I have a fear of losing my profits, which often results in me exiting too early, only to watch the trend continue without me.This book will help you face that fear. It will not be an easy task, but I will definitely work on the advice in this book to improve my emotions and mindset while trading.

I’m sure many traders purchase this book. This is one of those reads that made you break down what you thought you knew and laws you understood how to be a better participant within the charts and the market.

Great insights into trading psychology. We don't trade the markets. We trade our own psychology. I recommend this book.Super book.

Great book. and concepts. a touch long for the topic but over all a good trading book

I have been trading for decades. Until recently, mostly unsuccessfully. When I read this book, it became very clear my issues were the same ones everyone (70-80% of everyone who tries trading flames out more or less completely) who fails experiences. I had mostly turned my trading around in the last two years but this book spoke to me at a time when I backslid badly.If you have not traded before, don't waste your time with this book. Until you have been bloodied up some, it won't be very easy to understand. Once you HAVE been bloodied up some, it will prove invaluable. You need to have matured to a certain point in your own trading before this book can really help you get to the next level.What this book isn't: a primer on technique. The author and I share a pretty cynical view of charting. He has no patience for fundamentals, and I share that even though I swing trade while he day trades. There is no "here is how to make a huge pile of cash in two days" material here. While he shares what he trades, he encourages the reader to find their own trading space, and this is very wise. While most books on trading claim they can teach you to trade (mostly by following some technique that doesn't work outside the back-testing world), this author completely avoids that. Trading is completely individual, in my experience, so what you need is what you get from this book: an understanding of HOW to think, not a primer on WHAT to think.This is why I say you have to trade first before you read this book. Until you have faced the cold, hard reality of a position collapsing (and the euphoria of a position shooting up in value), you won't understand what the author is telling you. It literally will make no sense.In just the several weeks since I read this, my trading has improved quite noticeably. I sent the author a thank you note to the email he shares. I never heard back but I also never expected I would. This book will really help you if you have traded and lost, like most of us. If you have only traded and won (there must be at least one of you out there somewhere), keep going until you have experienced that first good hard butt kicking. Then read this and go back and do better. You will.

If you aspire to be a profitable trader your mind has to be in the right place. This is what Tom offers in this book.

Tom says as it is! If yo do not get concepts presented in this book, you will not succeed in trading. Don't get upset with me saying that; just recall this in 10 years, and you will find out who was right. I like the book a lot, because after day trading for 20+ years, I agree with Tom 98% of the time. I think Tom says that 80% of traders lose money, because he simply is a very nice person. If you dig deeper in this number and divide traders into day traders, swing traders, and investors, the harsh truth is much more depressing: 99%+ of day traders lose money sooner or later. No, I do not have hard data to support this number, but after 20 years seeing intelligent, highly-educated, and dedicated people failing at this, that's my view. If you want a chance to join the elite, read this book and practice what Tom is saying. This is a must read.

Tom Hougaards book is a must-have for the trader that feels hen is currently in "no mans land" on their trading journey towards profitability, or for the experienced trader that wants to take it to the next level.This is not a book filled with bs chart indicators, patterns and all the other technical analysis information that every other trading book is offering.Briefly speaking: This book is about what "The Ideal Trading Mindset" looks like and is all about, and how we as traders need to really dig in deeper into ourselves to find the issues that keeps us from being the true traders that we know we are - and how to solve these issues.Simply put: It's about how to develop the psychology needed to operate as a high stake day trader on a consistent basis - like a professional.It's a book that will be read many times over.Worth every single penny.I can recommend this book whole-heartedly and want to thank Tom Hougaard for his wisdom, and his time to write this book.

Polecam zapoznać się z innymi wartościowymi rzeczami od pana Toma na jego stronie tradertom.com. Otwiera głowę.

El mejor regalo! En verdad es un súper libro para negocios, vida personal y profesional!!

This book is one of the best books I've ever read about trading and psychology. I bought it recently and have read it twice. I really like the authors down to earth style and have learnt a lot. I had no idea how much the mind and how you think about trading plays such an important part in it. You can know everything about technical analysis and fundamental analysis and have a proven strategy but that doesn't guarantee success. You must have the right mindset as well. If you can master your psychology, then you stand a much better chance of success. Without that, it's likely that you won't be able to trade consistently and be profitable. This book is a real gem, I highly recommended it. The other book I would also highly recommend is Trading In The Zone by Mark Douglas

Pros:-1. Gives you best understanding of how to train your mind to become good trader.2. Explained importance of technical analysis with simultaneous focus on mental training.Cons:-1. Flow of thoughts are not consistent but still delivers the message.2. Repetition of few concepts.Upon completing this book, the author garnered my profound respect.